PANews reported on March 22 that according to Bloomberg, people familiar with the matter revealed that Coinbase Global Inc. is in advanced negotiations to acquire the crypto derivatives exchange Deribit, the world's largest Bitcoin and Ethereum options trading platform. It is not clear whether Coinbase has reached a final agreement with Deribit.
Some of the people said the two companies have informed Dubai regulators of the talks because Deribit holds a Dubai license that any acquirer could take over. Bloomberg reported in January that Deribit could be valued at around $4 billion to $5 billion. Deribit was founded in the Netherlands in 2016 by John Jansen and Marius Jansen. Early backers of the company included crypto investment firm XBTO and growth equity investor 10T Holdings. Total trading volume at Deribit, which offers options, futures and spot trading, nearly doubled last year to nearly $1.2 trillion.
